NEW YORK CITY (July 9, 2018) – Keith Braddish, senior vice president/managing director of NorthMarq Capital’s New York City metro office, arranged acquisition financing of $26.9 million for Lithia Springs Distribution Center, a 617,969 sq. ft. industrial property located at 7705 Staples Drive in Lithia Springs, Georgia. The transaction was structured with a 3-year term with two one-year extensions. NorthMarq arranged financing for the borrower through its relationship with a bridge lender.
“The property is a 100 percent vacant, state-of-the-art, infill distribution/manufacturing facility located in the Terminus West Business Park in Lithia Springs. Latitude Management Real Estate Investors, Inc. executed flawlessly for this repeat borrower. They recognized the intrinsic value of the improvements and the deep tenant pool associated with this infill Atlanta location,” said Braddish.